Tuesday, March 10, 2009

McClellan Oscillator: Oversold Bounce Time

From the Financial Ninja:

Looks like that oversold bounce is being attempted (again) this morning...

The NYSE McClellan Oscillator (NYMO) has been a good predictor of short term oversold bottoms on spikes to -100. The spike down in NYMO results in a push higher in equities that starts 3 - 5 days later.